Nike Is Down 79%. Is It Finally the Ultimate Dividend Stock to Buy and Never Sell?

NKE has plunged 79% from its all-time high, driving the dividend yield to a record 4.5%—a level that may draw income-focused buyers despite mounting operational headwinds. The athletic-wear giant is confronting failed growth initiatives, weakening sales in Greater China as domestic competitors gain share, and fallout from its direct-to-consumer pivot that damaged critical retail partnerships.

The company has raised its dividend for 24 consecutive years, and its balance sheet remains intact. But earnings are sliding, and management faces execution risk on multiple fronts. If profitability continues to erode, the dividend streak could be at risk—a scenario that would likely accelerate selling pressure.

The 4.5% yield reflects both the magnitude of the selloff and investor skepticism that NKE can stabilize revenue and margins in the near term. Greater China remains a pressure point, and the company has yet to articulate a clear path to reversing lost wholesale distribution.